India is likely to miss the exports target of USD 340 billion set for 2014-15, falling short of the mark by almost 8 percent at around USD 314 billion, a top official said.
According to Directorate General of Foreign Trade (DGFT) Pravir Kumar, it appears “difficult” to achieve the USD 340 billion merchandise exports target.
Asked about the quantum of total merchandise exports the Commerce Ministry expects for the current fiscal, Kumar said: “Almost at par with the last year. Last year, we were at USD 314 billion, so around that only.”
He was speaking on the sidelines of a function organised by exporters body Federation of Indian Export Organisations (FIEO).
During 2013-14, total value of exports stood at USD 465.90 billion, with merchandise and services accounting for USD 314.40 billion and USD 151.5 billion, respectively.
The target for total exports for 2014-15 is USD 500 billion, with merchandise and services expected to be at USD 340 billion and USD 160 billion, respectively.